Vernon Hills, Ill. — Six new tenants have signed leases at Hawthorn, a shopping center located in Vernon Hills, roughly 40 miles outside Chicago. Sephora, Anthropologie, FP Movement, The Lovesac Co. and Perry’s Steakhouse & Grille will open at the property next year. Dom’s Kitchen & Market will also open a store in 2025. Other tenants at the center include Maggiano’s and AMC Hawthorn 12.
Burlington, N.J. — Moonbeam Capital is nearing completion on the first phase of the redevelopment of Burlington Center Mall, a 680,000-square-foot formerly vacant enclosed mall property located in Burlington. Moonbeam acquired the mall in 2012 and has repositioned the property as The Crossings, a 370-acre mixed-use development. Phase 1 features roughly 100,000 square feet of retail and restaurant space. Tenants include Raising Cane’s, Sleep Number, Panera Bread, Freddy’s Frozen Custard & Steakburgers and Discount Tire. Plans for Phase II include potential medical office, hotel and fitness space.
West Palm Beach, Fla. and LaGrange, Ga. — BWE has secured two loans totaling $16 million for the financing of a pair of shopping centers located in Florida and Georgia. The deals include a $6 million loan for the refinancing of Palm Beach Commons, a 70,000-square-foot, Family Dollar-anchored retail center in West Palm Beach; and a $10 million acquisition loan for Publix at Merganser Commons, a newly built, Publix-anchored shopping center spanning 46,791 square feet in LaGrange. Logan Petersmeyer of BWE originated both loans, which are underwritten with full-term, interest-only payments.
Pleasant Grove, Utah — Three new tenants have signed leases totaling 5,221 square feet at Valley Grove, a 130-acre mixed-use development currently underway in Pleasant Grove. MilkShake Factory, Shamrock Coffee and Club Pilates are scheduled to open at the property next year. Other retail tenants at the development — which also features office, residential space and hotel space — include AT&T, Café Rio, Da Cloud Boba Shoppe, Jersey Mike’s Subs, Kolache Krave, R&R BBQ, Starbucks Coffee, Slim Chickens, Verizon and Village Baker. Upon full buildout, the project cost is expected to …
Rancho Cucamonga, Calif. — Progressive Real Estate Partners has arranged the $3 million sale of a 1.7-acre parcel of land located in Rancho Cucamonga. Zoned for mixed-use, the property is situated less than a mile from retail center Victoria Gardens. Chris Lindholm and Paul Galmarini of Progressive represented the seller, a Los Angeles County-based private investor, in the transaction. Nicholas Christen of Province West represented the buyer.
Fort Lauderdale and Pembroke Pines, Fla. — Footwear brand Skechers has opened two new stores in South Florida. In Fort Lauderdale, the retailer now occupies 8,840 square feet within Bal Harbour Square. In Pembroke Pines, Skechers has opened a 13,500-square-foot store situated within West Fork Plaza. Steve Miller of The Rotella Group represented the tenant in the lease negotiations.
Harrisburg, Pa. — St. John Properties Inc. has unveiled plans for the redevelopment of Harrisburg Mall, a 1 million-square-foot regional mall located in the Swatara Township section of Dauphin County. The company plans to build Swatara Exchange, a mixed-use development consisting of multi-use commercial space and supporting inline retail and retail pad sites. The mall will undergo an extended demolition program that is expected to conclude in 2025. The existing Bass Pro Shops and Applebee’s Grill + Bar restaurant will remain operational, and the former Toys ‘R’ Us building will be …
Chicago — Chicago-based real estate investor and operator Northpond Partners has partnered with a Southeast U.S. pension fund to form Northpond Retail Partners, a $200 million investment vehicle. The fund will target the acquisition of unanchored neighborhood retail centers with an initial focus across the Southeast and select Sunbelt markets. As an all-cash buyer, the partnership will target properties housing convenience, necessity and service-oriented tenants. Categories typically include food and beverage, medical, fitness, and health and beauty. Northpond says the multi-tenant properties ideally contain smaller spaces ranging from 1,000 to 5,000 …
Joliet, Ill. — PENN Entertainment has broken ground on the $185 million Hollywood Casino Joliet at RockRun Collection in Joliet. The casino will anchor RockRun Collection, a 1 million-square-foot mixed-use development that is under construction. Cullinan Properties is the owner and developer for the 310-acre project. The land-based casino will feature approximately 850 slots and 44 live table games, including a baccarat room, retail sportsbook, bars and restaurants, and an approximately 10,000-square-foot event center with meeting areas. There will also be roughly 1,330 parking spaces. PENN expects to create 450 construction …
Newark, Del. — Reybold Group is underway on the development of Pencader Corporate Center, a 17.3-acre retail development located in Newark. A 5,500-square-foot Wawa store opened at the property Dec. 15. Upon completion, the development will also feature a 10,000-square-foot childcare center and 12,000-square-foot multi-tenant retail space.